Home Equity

A Home Equity Loan or a Home Equity Line Of Credit (HELOC) from Austin Telco lets you put your home to work for you. Whether you want to consolidate bills, put in a pool, pay for college expenses, or just take that dream vacation; a home equity loan can be the most efficient and affordable way to achieve your financial goals.

What is a Home Equity Loan?

A home equity loan is a fixed-rate loan based on the difference between what you owe on your home and its current market value. You receive the full loan proceeds and then pay it back in predictable, fixed monthly payments based on terms up to 20 years. You can borrow up to 80% of the market value of your home (less any other mortgage balances) and pay it back at terms that fit your budget.

Home Equity1

Maximum Terms

>730

729-680

679-640

639-600

599-550

<549

60 Mo.

3.85%

4.35%

4.85%

5.85%

6.85%

7.85%

120 Mo.

4.15%

4.65%

5.15%

6.15%

7.15%

8.15%

180 Mo.

4.25%

4.75%

5.25%

6.25%

7.25%

8.25%

240 Mo.

4.75%

5.25%

5.75%

6.75%

7.75%

8.75%

Features of a Home Equity Loan

Receive a lump sum for the full loan amount

Enjoy a fixed simple interest rate and payment for the life of the loan

Choose from a variety of available loan terms

Borrow up to 80% of the value of your home (less any other outstanding balances)

No prepayment penalties for early payoff or additional principal payments

No closing costs below $100,0002

Interest may be tax deductible3

What is a Home Equity Line of Credit (HELOC)?

A home equity line of credit (HELOC) is a revolving line of credit that gives you the flexibility to borrow funds as you need them, up to your available credit limit. A home equity line of credit (HELOC) and all other loans secured by the property (first mortgage, home improvement loan, etc.) cannot exceed 70% of the fair market value of the home.

5 Year Draw Period
Plus No Closing Costs!2

Annual Percentage Rate1

HELOC

5.75%

Features of a HELOC

Borrow only the amount you need, when you need it

5 year draw period with interest only payments followed by a 10 year repayment period

Variable rate loan

Draws must be for a minimum of $4,000. No additional draws are allowed if the HELOC balance is greater than 70% of the market value

No prepayment penalties for early payoff or additional principal payments

No closing costs below $100,0002

Interest may be tax deductible3

Not sure if a home equity loan or line of credit is right for you? Talk to one of our home equity specialists by calling 512-302-5555, ext. 7194, or email loans@atfcu.org

2Austin Telco pays all standard closing costs for new Home Equity/HELOC loans below $100,000. These costs include: title search, flood determination, credit report, and county filing fees. Refinances of existing Austin Telco Home Equity/HELCO loans are subject to a $300 refinance fee. If necessary, additional fees for member requested appraisal, survey, and/or title company closing costs will be the responsibility of the borrower. Estimated costs will be disclosed upon receipt of application. Loans of $100,000 and above may require an appraisal, title policy, and title company closing costs at the member’s expense. Hazard insurance is required. Rates and terms on loans above $200,000 may vary. All loans are subject to standard credit approval.

3Consult with the IRS or a tax professional concerning tax deductible in your specific situation.

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